- Bitkey includes a mobile app, hardware device, and a set of recovery tools in case the customer loses the phone, their hardware, or both. Built by the Proto team at Block, Bitkey is now available for pre-orders at bitkey.world.
"We invite you, and others you know who care about financial ownership and control, to purchase Bitkey so we can together put the keys to bitcoin ownership in the hands of people around the world," the team said in a blog post.
- "Bitkey puts two keys in customers’ hands: one is in the mobile app, which enables customers to make bitcoin transactions easily on their mobile phone, track their balance, and manage security preferences; and the second customer-held key is in the hardware device, securely stored offline," was stated in the press release.
- "A third key is on Bitkey’s server and is used for only two things: to help customers move bitcoin with just their phone for the transactions they choose to make on the go without their hardware device, and to help customers recover their wallet if they lose their phone or hardware - or even both."
This approach to security means that Block will have visibility to all user transactions performed with Bitkey.
On privacy: yes, today our multisig design optimizes for safety but means that Block has enough info to see txn history. We're exploring a creative technical solution that may allow us to reduce this visibility but with the same safety — but for now, there's absolutely a tradeoff— Max Guise (@max_guise) December 7, 2023
- Recently, the product's team also shared a paper explaining Bitkey's recovery design.